Marcus & Millichap Inc Facilitates $100 Million Sale of Cypress Point Multifamily Property.

Marcus & Millichap Inc facilitated the $100 million sale of Cypress Point, a 268-unit multifamily property in Ventura, California. The transaction, which equates to $373,134 per unit, was facilitated by Institutional Property Advisors' strategic marketing efforts. The property has a strong historical occupancy rate of 97.6% over the past five years, and its strategic location with access to major freeways and amenities increased its attractiveness to potential buyers. This transaction boosts Marcus & Millichap's sales volume and reinforces its position as a leader in the commercial real estate sector.

Marcus & Millichap Inc. has successfully facilitated the $100 million sale of Cypress Point, a 268-unit multifamily property located in Ventura, California. The transaction, which equates to $373,134 per unit, was executed by Institutional Property Advisors (IPA), a division of Marcus & Millichap. The sale underscores IPA's strategic marketing efforts and Marcus & Millichap's leadership in the commercial real estate sector.

Cypress Point, originally developed in 1990, is a low-density, value-add opportunity asset that had been owned and maintained by its original developer. The property's strong performance history includes an average occupancy rate of 97.6% over the past five years. Its strategic location near major freeways, such as U.S. Route 101, California State Route 126, and Route 118, enhances its appeal to potential buyers. Additionally, proximity to amenities like Ventura College, Downtown Ventura, Ventura Harbor, the East Ventura Metrolink station, and Ventura Village Shopping Center further boosts its attractiveness.

The property features 28 two-story apartment buildings, a barbecue and picnic area, a fitness center, a clubhouse, and covered parking. First-floor units have nine-foot ceilings, while second-floor units offer up to 12-foot vaulted ceilings. All apartments include extra storage, dishwashers, large closets, and window coverings.

The sale was represented by Kevin Green, Joseph Grabiec, and Gregory Harris of IPA, who procured the buyer, Raintree Partners, on behalf of the seller, County Center LP. This transaction not only signifies Marcus & Millichap's robust sales volume but also reaffirms its position as a leader in the commercial real estate sector.

References:
[1] https://www.marketscreener.com/news/institutional-property-advisors-brokers-100m-sale-of-ventura-county-multifamily-asset-ce7c50d9d18cff20
[2] https://www.businesswire.com/news/home/20250826456218/en/Institutional-Property-Advisors-Brokers-%24100M-Sale-of-Ventura-County-Multifamily-Asset